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Just down the road from yourself. I work at Schonfeld in Chicago (Right next to the Merc.)

Thanx! Here's another message you can pass on: Vic Niederhoffer is a friend of mine, and he wasn't very pleased with how Dennis's boys are hypocritically slamming him lately. http://turtletrader.com/niederhoffer1.html They have the nerve to rag on Vic for blowing out ONCE?! Dennis...

Great! Maybe he'd like to refund my $100k that he pissed away.

Yes, I'm sure he achieves fantastic returns on his $2,000 Ameritrade account.

~~~~Shit happens in our business ...~~~~ Maybe so, but I know that I won't be conducting any future business with any slow green reptiles in a hard shell.

In 1999 I invested a quarter mil in the the Dennis Fund. A year later, Richard Dennis went belly up, and I was down about 50% on my investment. That's some lousy turtle soup.

D***** made 50 mil in his best year (About 35 take home before taxes) , nobody in Schonfeld did 75 mil.

~~~~~When you say "golden handcuffs", do you mean that you and EQ had to sign a no-competition contract? Or that you won't get your bonus unless you hang around until the end of the year? ~~~~~~~~ The latter.

This is true, ANYBODY posting a 1/2 mil losing month, after struggling for the past year is going to be cut in shares.

~~~and why would anyone let this happen?~~~ ...Because the same guy was probably making heavy 7 figures in 2000.

NONE of Schonfeld's good traders, including EQ would quit before December, for golden handcuff reasons. Also, Although Schonfeld isn't perfect, it's a tough time for EVERYBODY right now. Name one daytrading firm that isn't stuggling right now....Schonfeld isn't immune...

So here goes: It was 50 out of about 90 traders who got laid off. As far as Cal & Houston that descision has not been made yet. Florida will see consolidation.

70% was on the table when we discussed it, but in the end slightly over 50% were axed. Gross positive? What's that? No, seriously I'd say about 20% were gross positive over the past year & a half. Nobody up more than a few grand in that period.

Hey, I know our firm has it's flaws. Still, it is the best framework I've ever been a part of, and I really don't make a good 'brick in the wall' kinda guy. What other firm takes all 1,000 employees (plus a guest) to stay at the Ritz in Puerto Rico? What other firm will FORGIVE losses on a...

Did you just edit out your 'Vegas' post? I read it anyways... Last year they really let us 'Cowboys' trade away seven figure amounts, I'm under the impression that that's mostly under control. Nobody in my office (Chicago) is down big this year. (Or up big, as trading does in fact suck...

~~~~~all the chumps that bought in lost about 70% of their investment ( the min. was 100k per)~~~~~ Schoney gave us the option of cashing out all or most of the money we paid into the partnership, without suffering a loss. They're supposed to cut the checks to us in July. Call me crazy, but I...